Euro knocked by concerns over the Ukraine

The euro enjoyed a reasonable week last week gaining a little bit of ground against sterling and the US dollar. However we have seen a fall this morning over concerns in the Ukraine.

Today we have the release of industrial production data for the Eurozone, where the consensus currently expects a small positive figure of +0.2 which at least compares favourably to the surprise negative figure from January of -0.1. This week we are also expecting inflation data out on Wednesday, which is a key data set which is taken into account when the European Central Bank (ECB) forms its monetary policy. An unimpressive number could potentially increase pressure on the ECB to loosen its monetary policy, especially given criticism that the ECB is ‘all talk, little action’. There is no data of note released towards the end of the week.

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